Even though Mitt Romney and Paul Ryan want to transform Medicare from a guaranteed benefit to a voucher-based system, essentially phasing out the existing program, their campaign is running calls falsely claiming that President Obama is “changing the program forever” and “raiding $716 billion from Medicare.”
In reality, the Affordable Care Act actually extends the solvency of Medicare by reallocating $716 billion spent on the program. That money has gone to lowering Seniors’ co-pays, reducing fraud and abuse, and connecting reimbursements to economic productivity.
Should Romney and Ryan repeal these changes, Medicare would become insolvent eight years before it’s currently on track to. Their plan would also force future seniors would pay $60,000 more for their care.